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FL Real Estate TEST | Verified Q&A’s| Latest Update
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FL Real Estate TEST | Verified Q&A’s| Latest Update
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FL Real Estate TEST | Verified Q&A’s| LatestUpdate
What is the turn around for all offers verbal or written - ✔✔24 hours
Failure to turn in an offer can be considered - ✔✔Breach of trust
Compensation is an agreement between the broker and who? - ✔✔the employers
When is a broker entitled to compensation? - ✔✔When a ready, willing, and able
purchaser has been located even if the sale is not consummated
If broker fails to pay sales associate it can be considered - ✔✔Failure to account
How many brokers can a sales associate be employed with at a time - ✔✔one
Sherman Clayton Anti Trust Act prohibits - ✔✔Uniform pricing or fee for services in
an industry, i.e., setting commission rates in a particular neighborhood
RESPA prohibits - ✔✔kick backs
Are referral fees illegal - ✔✔no, but the referring party may not participate in the
transaction
Policy and procedure manuals - ✔✔are nice but not required
, MLS - ✔✔Multiple Listing service tool
Arms length - ✔✔selling for your sister is not a arms length contract
Highest level of employment - ✔✔agency
Broker office requirements - ✔✔Must have at least 1 enclosed room in a stationary
building
Can a broker have an office in his home - ✔✔yes
Each new broker office must be registered with who - ✔✔DBPR
Can Sales associates have offices at home - ✔✔Yes but NO negotiations may take
place
What are broker requirements for opening and closing an office in the same location -
✔✔Must have a reissue
What are broker sign requirements - ✔✔They must have a sign at the entrance easily
visible by all
All signs must contain what - ✔✔A licensed brokers name
All advertising must have what - ✔✔Brokers name on it
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